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Financial Affairs

This document outlines the financial account structure of Texas Woman's University (TWU), detailing the various fund categories used to indicate sources of financial resources and the nature of activities financed. TWU operates with 11 distinct funds, including State Appropriations, Designated Funds, Auxiliary Funds for student services, and other local funds. It explains funding sources, elements of costs, and object codes, providing a clear guide for students and faculty on the financial management processes at TWU.

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Financial Affairs

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  1. Financial Affairs ….and such! Jan 2014

  2. TWU’s Account StructureGeneral Ledger Account10.100.30.1580.xxxx.00000000 Segment Definition FUND FUNDING SOURCE ELEMENT of COST DEPARTMENT OBJECT CODE (Revenues & Expenses) Grant or Project • 10 • 100 • 30 • 1580 • xxxx (7315, 7299) • 00000000

  3. TWU Fund10.100.30.1580.xxxx.00000000What does this mean? • Categories of monies used to indicate sources of financial resources and the nature of activities financed. • TWU has 11 different funds. • Some funds are held in the State Treasury yet reserved solely for TWU’s use. • Other funds are held locally within TWU’s bank account.

  4. Funds – The Categories Fund 10 - Education & General – State Appropriations (funds are held in state treasury) Fund 11– Designated– Approved by the Board of Regents for a specific purpose (local funds) Fund 12 & 14 – Auxiliary - An entity that furnishes a service to students, faculty, or staff and charges a fee directly related to the cost of goods or services.Student Services – Student Life, Athletics, Commuter Services, Student Health Services, Housing, Food Services, Fitness & Recreation (local funds) Fund 19– Restricted – By Federal , State, or Local Entities (local funds)

  5. Funds –The Categories • Fund 20 - Loan Funds– Funds derived from gifts, grants, endowments, the federal government, and designated funds to provide loans to students. • Fund 30–Endowments– Funds donated and restricted under the terms of a legal document for a specified purpose or program. • Fund 40, 41, & 42– Plant Funds - These are used for new construction, renewals and replacements, and debt service. • Fund 50– Agency– The university acts as custodian of these funds which belong to another entity, not TWU.

  6. Funding Sources10.100.30.1580.xxxx.00000000Must identify, specifically! Appropriation – Education & general or HEF?Fee– what type of fee?Tuition– undergraduate or graduate?Gift- private donor or a foundation?Grant– federal or state?

  7. Funding Source – Examples Fund 10 100 – Appropriations 126 – Lab fees 150 – Higher Education Funds (HEF) 177 – Research Development Funds Fund 11 400 –Locally generated revenues 410 – Designated Tuition 411 – Designated Surcharge (Differential Tuition) 419 – Instructional Enhancement Fees 425 – Program Fees 890 –Investment Income (Discretionary accts)

  8. Funding Source – Examples Fund 12 & 14 • 432 – Medical Service Fees • 434 – Student Service Fees • 436 – Fitness & Recreation Fees Fund 19 • 301 – State Grants • 330 – Federal Grants • 350 – Private Grants • 370 – Indirect Costs • 600 - Contributions & Gifts

  9. Element of Cost (3rd segment)10.100.30.1580.xxxx.00000000 • 05 - Instruction • 10 – Research • 20 – Academic Support • 25 – Student Services • 30- Institutional Support • 45 – Auxiliary Enterprises • 55 - Library

  10. Department (4th segment)10.100.30.1580.x.00000000 • Four digit code identifies the department and other specialty areas within a department if needed. • 2402 – Utilities State – Denton • 2403 – Utilities State – Dallas • 2404 – Utilities State – Houston • 1580 – Procurement Services

  11. Object Code (5th Segment)10.100.30.1580.xxxx.00000000 • Used to identify revenues and expenses. • Revenue object codes range from 6000-6999 • 6115 – Student Fees • 6450 – Ticket Sales • 6800 – Donations • Expense object codes range from 7000-8999 • 7015– Staff Salaries • 7300 – Consumables

  12. Grant Project (6th segment)10.100.30.1580.xxxx.00000000 • Used only on accounts that require such identification. • The majority of accounts have 00000000, which is basically a place holder, no specific definition. • Primarily used for grant accounts where the sequence of numbers has a unique logic based upon the type of grant.

  13. Common Accounts 10.100… State Appropriations (salaries & benefits) 11.410… Designated Operating Accounts 11.411… Designated Surcharge (Differential Tuition) 11.425… Program Fee Accounts 12.434… Student Services14.480…Residence Hall Revenues 19.301… State Grants 19.330… Federal Grants 19.350… Private Grants

  14. Designated Operating & Surcharge – (11.410 & 11.411)Spending Guidelines Allowed • Accreditation Expenses • Advertising • Building-Maint/Repairs • Computer Equipment • Contracted Services • Copiers • Memberships & Dues • Equipment • Faculty Reference Materials • Fees • Food & Refreshments • Furniture • Gratuities • Printing • Professional Services • Promotional Items • Salaries & Wages • Supplies • Telecommunications • Training/Registration Fees • Travel • Uniforms Not Allowed • Alcohol • Awards • Contributions/donations • Flowers - Congratulatory or Condolences • Gifts • Tuition

  15. Program Fees (11.425…) Spending Guidelines Allowed • Accreditation Expenses • Computer Equipment • Contracted Services • Copiers • Memberships & Dues • Equipment • Fees • Printing • Professional Services • Salaries & Wages (see limits) • Supplies • Training/Registration Fees • Travel (see limits) Not Allowed • Advertising • Alcohol • Awards • Building-Maint/Repairs • Contributions/donations • Faculty Reference Materials • Flowers - Congratulations or Condolence) • Food & Refreshments • Furniture • Gifts • Gratuities • Promotional Items • Telecommunications • Tuition • Uniforms

  16. HEF Funds – Higher Education Funds Must be used for: Acquiring land Major repair of buildings Acquisition of capital equipment Library books and materials May not be used for student housing, intercollegiate athletics or auxiliary enterprises.

  17. Other Accounts • 10.126 – Lab Fees - used to purchase materials and supplies for labs. • 10.177 – Research Development Funds – used to promote increased research capacity at general academic teaching institutions. • 11.400 – Locally generated revenues. Similar to Discretionary Gift Accounts. • 19.350 – Discretionary Gift Accounts

  18. Budget Manager Detail Report • Home - Report Manager https://sqlreports.twu.edu/Reports/Pages/Folder.aspx

  19. Fees posted to Accounts? • Program Fees – Deposited monthly on the 15th. • Designated Surcharges (Differential tuition) – posted REAL-time. • Lab Fees – posted REAL-time.

  20. Special Considerations • For managing your departmental money Anticipate Eliminate Utilize

  21. Anticipate • Money that will not be encumbered • Travel Expenses • Procurement Card Expenses • Guest Lecturer Fees • Membership Fees • Check Request Payment

  22. Eliminate • Encumbered purchase orders • End of year frenzied spending • Unnecessary expenses

  23. Utilize • Cooperative purchasing power • Combined/collaborative purchasing power • The procurement team

  24. Financial Affairs & such!

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